Still goes on the most succesful integration process in latina America

In the Colombian city of Cali, has concluded a new Summit of the pacific Alliane,where some announcements where made:

The opening of negotiations with four countries was announced to bring them together as Associated States: Australia, New Zealand, Singapore and Canada. The entry of the latter is for the four countries, especially for Mexico, to draw a bridge over the United States. On the other hand, both Australia and New Zealand involve the consolidation of the great founding goal of the Alliance, approaching forcefully the Asia-Pacific. It would move from a market of 221 million consumers to one that could reach 300 million consumers.

The objective of these negotiations, as well as the new mandates of the Alliance, will be to increase investment in the four countries and thereby increase employment generation, as well as to attract more tourism to Chile, Colombia, Peru and Mexico .

Pension fund

The finance and finance ministers of the four countries signed an agreement to avoid double taxation of the Private Alliance Pension Funds of the Pacific Alliance.

The assets of the Pension Funds of the four countries, totaling US $450 billion, are an attractive source of investment for each capital market, so they will now have a maximum tax rate of 10% in alliance countries. Peaceful.

Each country has defined its pension system and this harmonization is outside this initiative but the four countries do work on the portability of pension savings among the members of the Pacific Alliance so that, if a worker of any country moves to Another of the AP, may also transfer their pension savings.

Job creation

Since the creation of the Alliance in 2012, this mechanism has attracted more than 3,700 investment projects for US $ 240,000 million and has involved the creation of more than 819,000 jobs.

Intra-alliance capitals have reached sectors such as construction, finance and food production. But there are more and new opportunities. The head of the Trade and Investment Division of the Inter-American Development Bank (IDB), Fabrizio Opertti, explained that they have identified alternatives in the financial services, health and telemedicine sector and in the so-called orange industry (creative services).

Important data

According to the World Bank’s Doing Business 2016, in Latin America and the Caribbean Pacific Alliance member countries rank first in the ease of doing business ranking.

The Gross Domestic Product (GDP) of the countries of the Pacific Alliance accounts for 39% of total GDP in Latin America and the Caribbean. The countries of the Pacific Alliance account for approximately 50% of Latin America’s foreign trade. They also account for 44% of total Foreign Direct Investment flows in Latin America and the Caribbean.

Chile, Colombia, Mexico and Peru have a strong democratic institutional structure, with periodically elected leaders, dynamic and globalized markets, and favorable conditions for investment.

The Alliance provides scholarships to students from all four countries to strengthen human capital, and has achieved a free flow of people for tourism and business through the elimination of visas.